318 mystery problem, somewhat solved!

When my 360 was running I had a similar issue. You would hear the engine rev up but no movement of the car. It turned out to be I didn't have the kickdown cable adjusted right. Im not sure if you would have to readjust it for the changes you made.

Does the trans feel like it is slipping?

X2 as a possible solution since I just went through the whole kick-down readjustment process recently and was getting the "no-go during throttling symptoms". As I slowly adjusted it closer to the sweet spot the throttle response would tightening up.